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it is massachusetts, california, you name it. that money you talked about is a small portion of the money the total spending of the budgets. >> that is $1 billion. otherwise wouldn't be there. >> when he talks about they are making their money from a small amount of players, 80% of lottery revenue comes from 10% of lottery players. it is a government program. >> what do you say to that? >> here is the facts that lotteries and states begin to do lotteries because people have a desire. we do $68 million in fiscal year 12. that is more than the movie and music history combined. the integrity is above reproach. but if we didn't have it. people are going to find ways to gain but they are going to do it illegally. that was the problem with the games. as you look at the future and the things that are going on with that. that is important. oversight to make sure you have things that you don't over look. >> thank you for joining me. i have to take a break now. >> when we come back we'll get to dave ramsey. also the fiscal cliff. ♪ constipated? yeah. mm. some laxatives like dulcolax can cause cramps. but p
has been a failed revenue source, across the country. whether it is massachusetts, california, across the country. that money you talked about is a small portion of the money. it represents 4% of the total spending of the municipal budgets across massachusetts. >> i mean, but it is nearly a billion dollars that otherwise wouldn't be there, going to very important local causes. what is actually wrong with that? >> but if you had sales -- that money comes from $4.7 billion worth of sales, lottery sales. if that money was spent on other forms of products and services in our economy, the return, the economic growth from that would be immensely higher, they talk about not making the money from a small amount of players. the new york times, reports that 80% of lottery money comes from lottery players. it is a predatory business, and it is a deception. >> there is one exception i would take to that. here is the facts, is that lotteries in states began to do lotteries because people have a desire. we do $68 million in lottery business in fiscal year 2012, more than the movie and music industr
Search Results 0 to 2 of about 3 (some duplicates have been removed)